1501 Peabody Street

Description

Back on the market due to out of town buyers inability to secure the the first tranche of required financing for their project proposal. This property offers a redevelopment opportunity in the west end of downtown--a prime location in Historic Ledbetter Heights just off the once thriving Texas Avenue, one block from the under development future Northwest Louisiana Civil Rights Museum. Existing building not considered in the property valuation--site is nearly an acre with the parking lot across the street of nearly a half acre also included in the sale. This is prime property for a visionary with a community focus who sees what can be possible and who is willing to lean in for all the right reasons. Church to apartment and condo conversions are a thing in real cities across the country as are other ideas to find a new uses for existing buildings, a far better option than wasting resources building new. Taking advantage of state and federal tax credits available for redevelopment of historic properties could be a win-win-win for a savvy and visionary developer. Be part of the solution in restoring the community that urban renewal decimated.